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Fed's Mester sticks with December interest rate projection for now

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Cleveland Federal Reserve President Loretta Mester said on Friday that she was keeping to her previous forecast made at the end of last year for the U.S. central bank's interest rate peak as economic data since then has not caused her to change her mind.

"I had my funds rate a little bit above the median in that projection, and I haven't really seen much change in my outlook for the economy since that time," Mester said in an interview with broadcaster CNBC.

"So I see that we're going to have to bring interest rates above 5%...I do think we need to be somewhat about 5% and hold there for a time in order to get inflation on that sustainable downward path."

 

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They won't crack inflation at 5%. What she sees doesn't define what the vote will be. 7%^ is needed by the end of 2024.

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Fed's Mester won't prejudge how big March interest-rate hike should beCleveland Fed President Loretta Mester said Friday she hasn't made up her mind yet whether the Fed should hike rates by 50 basis points in March. More like 6%! The money supply is still $21.5 Trillion !!
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